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Coventry Group Limited ( (AU:CYG) ) has issued an announcement.
Coventry Group Limited reported unaudited first-half FY26 sales of $188.5 million and EBITDA of $3.2 million, representing improvements on the prior half as its “back to basics” operating initiatives across sales, gross margins and costs begin to take effect. While stronger sales momentum in the second quarter was partially offset by lower gross margins, growth investments in new branches and relocation costs for its largest Fluids branch in Mackay, the company’s cost-out program has already delivered about $5.1 million in annualised savings and is expected to further reduce expenses, underpinning management’s optimism for higher earnings in the second half; net debt and working capital remained broadly in line with plan, with adequate funding and bank support in place. In parallel, the Board has launched a strategic review of the business portfolio following unsolicited approaches for individual units, appointing Allier Capital as corporate advisor and Talbot Sayer as legal advisor to examine options such as portfolio simplification or separation and other value-enhancing initiatives; with no decisions yet made and outcomes uncertain, Coventry has withdrawn its FY26 earnings guidance but stressed that operations continue as normal while the review progresses and shareholders will be updated as required under disclosure rules.
The most recent analyst rating on (AU:CYG) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Coventry Group Limited stock, see the AU:CYG Stock Forecast page.
More about Coventry Group Limited
Coventry Group Limited is an Australian industrial distribution and services company listed on the ASX, operating through its Trade Distribution and Fluid Systems segments. The Group supplies a range of products, including fasteners, industrial and construction supplies, and hydraulic and fluid systems solutions, serving trade, industrial, mining, and resources customers across Australia and New Zealand.
Average Trading Volume: 98,188
Technical Sentiment Signal: Sell
Current Market Cap: A$80.66M
See more data about CYG stock on TipRanks’ Stock Analysis page.